You don't need to have email on the device you are logging in from
Can take out phone and click link
Can take out phone and click link
That assumes you have that email account on your phone. Also that you have your phone with you, that your phone has signal / wifi, there's no delays, no greylisting, no spam filtering that might catch the email, ...
There's just too many simple ways it can break down for it to be a good system.
We're used to one way of working and have our setups for that. We don't want something different but not because it's worse. It's just different.
And even more, when you have a problem with your password, what do you have to do, yes, email for the most part.
Plus I don't know who's using that to help adtech build their cross device mappings